IUMBER c0.

Mcrnbcr Californir Rcdvood Anocirtion

OFFICES:

SAN FRANCIPCO

Croolcr BuiHiag

Phonc Suttcr 6l7D

LOS ANGELES

Lrac Mortgagc Bld3.

Phonc TRinity Z2t2

MILLS:

FORT BRAGG Crlifornir

Adcqu.t rtoregc rtocl et Sen Pcdm ferer from discouraging prices, that better days are at hand.

Looking forward, lumbermen see little likelihood of a reduction"of the demand for their product, and some hope of better merchandising and better adaptation of supply to demand. The morJ liberal attitude of the courts toward the dissemination of industrial intelligence and the withdrawal of cases against the industry under the anti-trust laws have helped the outlook. Signs of intelligent adaptation of production to the requirements of lumber consumers are not'lacking. Weak spois in the industrY glve promise of being streigthened by proprietary consolidations and commoi selling agencies. Interest in energetic- and comprehensive trade fromotion is growing, and it- is p-ossible if not probable thal after anotheryear has passed the-lumber industry will be stubbornly defending itself and fighting aggressively for its customary markets with modern commercial tactics and weapons.

Many sawmill operators also are looking forward to continuous operations sustained by carefully planned reforestation piojects. Truly the'lumber industry is beginhing to settle down.